<div id="readability-page-1"><div><div>On Monday, Cathie Wood-led Ark Invest executed significant trades, including a notable purchase of shares in Amazon.com Inc. (NASDAQ:AMZN), Block Inc. (NYSE:XYZ), and Alibaba Group Holding Ltd. (NYSE:BABA). Ark sold shares of Shopify Inc. (NASDAQ:SHOP) and Palantir Inc. (NASDAQ:PLTR).<h2>The Amazon Trade</h2>Ark Fintech Innovation ETF (BATS:ARKF) acquired 17,579 shares of Amazon, valued at approximately $3.99 million based on Monday’s closing price of $226.97. This purchase aligns with Amazon’s recent announcement to cut up to 30,000 jobs, marking the largest layoff in its history. The layoffs, aimed at streamlining operations, reflect the company’s response to the pandemic-era expansion. <h2>The Block Trade</h2>ARK Next Generation Internet ETF (BATS:ARKW), ARK Innovation ETF (BATS:ARKK) and Ark Fintech Innovation ETF (BATS:ARKF) purchased a combined total of 385,585 shares of Block, valued at approximately $30.9 million based on the closing price of $80.15. The Jack Dorsey-led company reported a significant increase in the value of its Bitcoin (CRYPTO: BTC) holdings in August, bringing them to nearly a billion dollars. The company’s strategic investment in Bitcoin has seen an 81% year-over-year growth, bolstered by new accounting rules for crypto assets. <h2>The Shopify Trade</h2>Ark Invest sold a total of 281,738 shares of Shopify Inc. across its ARKF, ARKK, and ARKW ETFs, valued at approximately $49.32 million based on the closing price of $175.06. Despite this sell-off, Shopify’s strategic focus on AI continues to garner attention, with Cathie Wood previously highlighting its potential in the e-commerce sector.<h2>The Palantir Trade</h2>ARKF ETF sold 13,922 shares of Palantir, valued at approximately $2.63 million based on the closing price of $189.18. This move comes as Palantir’s stock hits a new all-time high, driven by major contract announcements and strategic partnerships. <h2>The Alibaba Trade</h2>ARKF ETF purchased 14,881 shares of Alibaba, valued at approximately $2.67 million, based on the closing price of $179.45. This acquisition follows Alibaba’s launch of a new AI chatbot, enhancing its Quark app with advanced search capabilities. <h2>Other Key Trades</h2><ul> <li>Sold 133,917 shares of SoFi Technologies Inc. (SOFI) from ARKF.</li> <li>Bought 268,833 shares of DraftKings Inc. (DKNG) for ARKF and ARKW.</li> <li>Bought 750,115 shares of Intellia Therapeutics Inc. (NTLA) across ARKG and ARKK.</li> <li>Sold 128,751 shares of Iridium Communications Inc. from ARKK.</li> </ul>Benzinga's Edge Stock Rankings indicate Amazon has a Value in the 46th percentile. Here is how the stock measures up against rivals like Shopify.Photo Courtesy: PJ McDonnell on Shutterstock.com<ul> <li>Chamath Palihapitiya Warns Of ‘Massive Value Destruction’ For Insurers In Autonomous Era — Only ‘Rich Enthusiasts’ Will Continue To Drive</li> </ul>This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal</div></div></div>

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Cathie Wood's Ark Invest made significant trades, purchasing shares in Amazon, Block, and Alibaba while selling shares of Shopify and Palantir. Ark acquired 17,579 shares of Amazon for $3.99 million, aligning with the company's job cuts. The firm bought 385,585 shares of Block for $30.9 million, benefiting from its Bitcoin investments. Ark sold 281,738 shares of Shopify for $49.32 million and 13,922 shares of Palantir for $2.63 million. Additionally, Ark purchased 14,881 shares of Alibaba for $2.67 million, following its AI chatbot launch.

- Ark Invest, led by Cathie Wood, made significant trades, purchasing shares in Amazon, Block, and Alibaba while selling shares of Shopify and Palantir.  
- The Amazon purchase, valued at approximately $3.99 million, coincides with the company's announcement of cutting up to 30,000 jobs, the largest layoff in its history.  
- Additionally, Ark acquired a total of 385,585 shares of Block, valued at about $30.9 million, reflecting the company's strategic investment in Bitcoin, which has seen substantial growth.  

Cathie Wood Bets Big On Jack Dorsey's Bitcoin-Heavy Block, Adds Amazon And Alibaba — Sells Shopify, Surging Palantir